Related News

No related news articles were found.

arctic cat inc (ACAT) Related Businessweek News

No Related Businessweek News Found

arctic cat inc (ACAT) Details

Arctic Cat Inc. designs, engineers, manufactures, and markets snowmobiles and all-terrain vehicles (ATVs), and recreational off-highway vehicles under the Arctic Cat brand name. It also provides related parts, garments, and accessories. The company offers accessories consisting of bumpers, cabs, luggage racks, lights, snow plows, backrests, windshields, wheels, track systems, and winch kits; shocks, attachments, and float avalanche airbags; and maintenance supplies, such as oil and fuel additives. In addition, the company provides snowmobile garments for adults and children under the Arcticwear brand name; and garments for ATV and recreational off-highway vehicle riders under the Arcticwear ATV Gear label, as well as insulated outerwear under the Drift Racing brand name. Its garment portfolio includes jackets, coats, pants, hats, mittens, helmets, boots, sweatshirts, T-shirts, casual wear, suits, gloves, gear bags, and casual sportswear items. The company markets its products through a network of independent dealers in the United States, Canada, and Europe; and through distributors representing dealers in Europe, Russia, South America, the Middle East, Asia, and other international markets. Arctic Cat Inc. was founded in 1982 and is based in Plymouth, Minnesota.

arctic cat inc (ACAT) Key Developments

Arctic Cat Inc. Announces Executive Changes

Feb 9 15

Arctic Cat Inc. announced that Christopher J. Eperjesy, will join the company as chief financial officer, effective February 16, 2015. Eperjesy succeeds Timothy Delmore, who retired at the end of December, as planned. Since 2002, Eperjesy has been chief financial officer, vice president of finance and treasurer, at Twin Disc Inc.

Arctic Cat Inc. Declares Quarterly Dividend, Payable on or About March 13, 2015

Jan 28 15

Arctic Cat Inc. announced that its board of directors declared a quarterly cash dividend to shareholders of $0.125 per share of common stock. The dividend is payable on or about March 13, 2015, to shareholders of record as of the close of business on February 27, 2015.

Arctic Cat Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2014; Revised Earnings Guidance for the Fiscal Year Ending March 31, 2015

Jan 28 15

Arctic Cat Inc. reported unaudited earnings results for the third quarter and nine months ended December 31, 2014. For the quarter, the company reported total net sales of $193,735,000 against $225,790,000 a year ago. Operating profit was $5,863,000 against $18,392,000 a year ago. Earnings before income taxes were $5,774,000 against $18,302,000 a year ago. Net earnings were $7,487,000 against $12,120,000 a year ago. Net earnings per diluted share were $0.57 against $0.89 a year ago. The company continued to strong retail growth in sales of its Wildcat™ recreational off-highway vehicle (ROV) line and gained further market share in this category. Snowmobile sales in the quarter were negatively impacted by the timing of shipments to it’s OEM partner that moved to the fiscal 2015 first and second quarters.
For the nine months, the company reported total net sales of $599,853,000 against $585,083,000 a year ago. Operating profit was $35,494,000 against $63,118,000 a year ago. Earnings before income taxes were $35,494,000 against $63,118,000 a year ago. Net earnings were $26,445,000 against $40,953,000 a year ago. Net earnings per diluted share were $2.02 against $2.99 a year ago. Capital expenditures totaled $14.9 million.
For the fiscal year ending March 31, 2015, the company estimates sales in the range of $705 million to $715 million and net earnings of $0.36 to $0.44 per diluted share. Executive severance charge of $0.08 per diluted share recorded in the first quarter; warranty expense charge of $0.26 per diluted share recorded in the second quarter; executive transition costs of $0.11 per diluted share in the 2015 third quarter and about $0.03 per diluted share in the 2015 fourth quarter; estimated dealer inventory reduction of $0.40 per diluted share; and the anticipated unfavorable Canadian currency impact of up to $0.80 per diluted share for the fiscal 2015 full year. Excluding the impact of the recall, severance, inventory reduction and executive transition costs, the company anticipates fiscal 2015 earnings in the range of $1.24 to $1.32 per diluted share, as adjusted. Previously, the company anticipated full-year net earnings of $1.55 to $1.65 per diluted share on net sales in the range of $745 million to $755 million. The company expects 2015 capital expenditures to total approximately $28.5 million and depreciation to be approximately $15.6 million. The company expects tax rate to be 24.8%.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.